Compugen, Sinovac: Early Volume Plays - TheStreet

NEW YORK (

TheStreet

) -- Several stocks trading near $5 were poised to move on above-average volume during Monday's session.

Fannie Mae

( FNM) and

Freddie Mac

( FRE) jumped by 23.8% and 25.4%, respectively, in the premarket session after the Treasury Department Thursday amended terms of an agreement with the government-sponsored entities to support their ongoing stability. The Treasury removed the $400 billion financial cap on the money it will provide to both, and said it will not require either to reduce the size of their mortgage-related investment portfolios next year, as previously planned.

Compugen

(CGEN) - Get Report

surged by $1.47, or 36%, to $5.55 in the premarket session after the company announced the discovery and experimental validation of CGEN-671, a new drug target for multiple epithelial tumors. In experiments, CGEN-671's expression level in various healthy tissues was up to 200 times lower than the expression level of the previously known cancer target CD55, suggesting that the Compugen discovered splice variant should be a superior drug target candidate for cancer treatment, the company said. The 50-day average daily volume for is 662,000 shares, according to the

Nasdaq

.

Sinovac Biotech

(SVA) - Get Report

jumped by 55 cents, or 8.8%, to $6.80 in the premarket session after the company filed a clinical trial application with China's State Food and Drug Administration for a vaccine against hand, foot and mouth disease. The three-month average daily volume for Sinovac is 2.3 million shares, according to Yahoo! Finance.

Zale

(ZLC)

slumped by 10 cents, or 4.1%, to $2.37 in the premarket session after the company received written notice from Citibank of its intent not to renew the Merchant Services Agreement. Earlier this month, the jeweler's stock tumbled on reports it cancelled orders and delayed payments. The three-month average daily volume for Zale is 931,000, according to Yahoo! Finance.

RAM Energy

( RAME) gained 30 cents, or 17.9%, to $1.98 in the premarket session after Wunderlich upgraded the stock to buy and assigned a stock price target of $4, saying the company has navigated through a difficult year. Wunderlich analysts said that while debt levels remain high, they believe those levels are very manageable given the company's cash flow and drilling prospects. The 50-day average daily volume for is 217,000 shares.

(

At 7:28 a.m. EST

)

Vical

(VICL)

said its Phase III trial of Allovectin-7 for the treatment of metastatic melanoma received a positive review from safety monitoring board. The 50-day average daily volume for Vical is 489,000 shares, according to the

Nasdaq

. The stock closed at $2.75 Thursday.

Koss

(KOSS) - Get Report

shares were set to trade lower after the company said it has terminated VP of Finance Sujata Sachdeva and warned that financial statements are unreliable since at least 2006. Unauthorized financial transactions made under Sachdeva's watch may exceed $20 million, Koss estimated. The 50-day average daily volume for Koss is 1,600. Shares closed Thursday at $5.51.

Limelight Networks

(LLNW) - Get Report

rose nearly 6% to $3.95 in the premarket session, one week after it announced a definitive agreement to acquire privately held

EyeWonder

for approximately $110 million in a cash and stock deal. The 50-day average daily volume for Limelight is 222,000.

Amicas

(AMCS)

was halted in the premarket trading session after

Thomas Bravo LLC

said it would acquire the company for $5.35 a share in a deal worth approximately $217 million. The 50-day average daily volume for Amicas is 131,000. The stock closed Thursday at $4.42 a share.

Arrowhead Research

(ARWR) - Get Report

said its Tego Biosciences subsidiary sold its intellectual property portfolio to

Luna Innovations

(LUNA) - Get Report

for $430,000 upfront. Tego will also receive milestone payments totaling $4.25 million for each fullerene product it brings to market under Tego IP. The 50-day average daily volume for Arrowhead is 131,000. Shares finished trading Thursday at 53 cents.

-- Written by Robert Holmes in Boston

.

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